Nykredit A S bought a new stake in Edison International (NYSE:EIX – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 135,433 shares of the utilities provider’s stock, valued at approximately $10,083,000.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Edison International during the 2nd quarter worth approximately $3,340,412,000. State Street Corp increased its position in Edison International by 3.0% in the 4th quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock valued at $1,989,135,000 after acquiring an additional 953,800 shares during the period. AQR Capital Management LLC raised its stake in shares of Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after acquiring an additional 7,521,168 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Edison International by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock valued at $803,407,000 after acquiring an additional 386,905 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Edison International by 12.3% in the fourth quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock worth $364,341,000 after purchasing an additional 662,477 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.
Edison International Price Performance
Shares of NYSE EIX opened at $56.64 on Friday. The stock has a market cap of $21.80 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 2.29 and a beta of 0.62. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66. Edison International has a fifty-two week low of $52.00 and a fifty-two week high of $81.62. The firm’s 50-day simple moving average is $72.54 and its 200 day simple moving average is $71.96.
Edison International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s dividend payout ratio is presently 36.19%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on EIX. UBS Group decreased their price target on Edison International from $75.00 to $63.00 and set a “neutral” rating for the company in a research note on Tuesday. Morgan Stanley cut their price target on Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a report on Friday, August 21st. Barclays reiterated an “equal weight” rating and issued a $75.00 price objective (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of Edison International from $82.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $64.55.
Check Out Our Latest Analysis on Edison International
About Edison International
Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.
The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.
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